Tag Archive | "F&I Express"

GRAPEVINE, Texas — F&I Express today announced that MOXY Solutions is now on its platform. The integration of the Southern California company’s IMOXY platform adds aftermarket F&I product provider Red Shield to F&I Express’ network of more than 160 providers.

MOXY provides a system designed to streamline the sales and deal closing process for product administrators, dealers, agents and finance companies. Additionally, the company’s IMOXY web and mobile portal provides an easy way to monitor transactions, view rate programs, and identify any special rules or guidelines from various administrators.

Brian Reed, CEO and president of F&I Express, added: “One of our core values at F&I Express is relationship building. We look forward to the opportunity to expand our network by adding Moxy Solutions and Red Shield to the platform.”

GRAPEVINE, Texas – Intersection Technologies Inc.- F&I Express is thrilled to announce that Gary Peek has joined the business team as Chief Information Officer. Peek will be a key contributor to the direction and planning of the strategic growth of F&I Express, including the development of expanded technology solutions to help continually drive innovation in the marketplace. Peek will be responsible for managing all aspects of information technology and shape product vision and technology strategy.

“I am excited to join F&I Express and be a part of the rapid growth that the company is experiencing and to work with Brian Reed, an automotive industry veteran,” said Gary Peek, CIO of F&I Express. “The F&I technologies that are being built for lenders, dealerships, and aftermarket providers is changing rapidly, and I am confident that F&I Express will continue to be at the forefront of companies providing software and services in this vertical.”

Peek brings more than 20 years of experience in the vertical market software industry including strategic planning, mergers/acquisitions, business development, and product and software engineering strategies to F&I Express. Before he joined F&I Express, Peek served as the Vice President of IT Business Solutions for Rent-A-Center, Inc. (RAC) where he managed a large technology team providing application development, quality control, product management, solution architecture, and enterprise data services across multiple business units. Prior to RAC, Peek was responsible for strategy, business case development, and global vendor management for technologies used by KFC, Pizza Hut, and Taco Bell restaurants outside the U.S. as the Director of Restaurant Technology Strategy for Yum! Restaurants International. Peek has also founded and grown highly successful software companies from the ground up with technologies primarily focused on the restaurant industry being used by companies around the globe.

F&I Express is also happy to welcome Mike Llewellyn to the F&I Express team. As the Express Recoveries Product Manager, he will be instrumental in supporting and leading the overall growth of the business for this complete solution for streamlined, compliant eCancellations. Llewellyn will work closely with customers and across technology and account management teams to ensure customer needs are met and solution strategies are successful.

“I am ecstatic to be part of the dynamic growth at F&I Express, joining this extremely passionate and talented team,” said Mike Llewellyn, Express Recoveries Product Manager, F&I Express. “I am focused on further enhancing one of our best-in-class solutions, Express Recoveries, enabling lenders and dealers to obtain aftermarket product cancellations and refund data, while solving business problems that arise in our ever-changing marketplace landscape.”

Llewellyn has over 20 years of experience in Product Management and a history of customer-centric focus in e-commerce environments. Llewellyn held a number of roles at Sabre Airline Solutions before joining F&I Express, from Manager, Solution Marketing Ancillary Sales to Manager, Solution Marketing Self-Service to Manager, E-Commerce Delivery. He successfully led e-commerce airline booking portals at global airlines as well as promoted new features driving an increase of ancillary revenues for airlines. Llewellyn also reinvigorated the revolutionary MySabre agency point-of-sale portal with product enhancements, increasing adoption by 57%. Prior to Sabre, Llewellyn was an Account Executive at American Airlines where he was recognized with both the Circle of Distinction and Bulls Eye awards for outstanding sales growth and visionary leadership.

“We are excited to welcome Gary Peek to our business team as Chief Information Officer at F&I Express. He will be key to our strategic growth plan to expand and improve our technology solutions at an explosive rate,” said Brian Reed, President and CEO of F&I Express. “Mike Llewellyn will be another valuable addition to the F&I Express team. We look forward to the contribution he will make to further develop the success of our eCancellation solution, Express Recoveries.”

The integration of F&I Express and F&I Admin addresses the issues that have come forward in recent months about major problems lenders are encountering with aftermarket product cancellations. Express Recoveries, F&I Express’ eCancellation solution, helps solve the issues and moves the manual process to an electronic connection between lenders and providers, which allows for streamlined and compliant cancellations.

The Express Recoveries℠ platform from F&I Express enables lenders to submit F&I product cancellation requests directly and simultaneously to dealers and product providers. The integrated Express Recoveries/F&I Admin platform creates an electronic network that accelerates the processing and recovery of refunds for cancelled F&I products. In addition, full cancellation lifecycle reporting improves the ability of lenders to comply with the changing regulatory environment, and to better service their dealer and consumer customers.

Rich Apicella, GM of the Express Recoveries program at F&I Express explained, “Lenders require access to data from their product provider and dealer partners to fulfill their regulatory obligations for product cancellations. By offering an integrated platform, the F&I Express and F&I Admin team provides the tools and market transparency so that lenders, product providers and dealers can work together more efficiently to ensure consumers receive the product cancellation refunds they are entitled to.”

Lenders are held legally liable by state and federal regulators to process cancellations in a compliant and timely manner. The nation’s leading lenders who are using the Express Recoveries solution have authorized F&I Express to securely manage their cancellation process.

“We are very pleased to be the first to work with F&I Express to develop this electronic solution to a problem that has been in existence for many years,” said Kumar Kathinokkula, COO of F&I Admin. “Not only will this streamline the process and ensure lenders can deliver to their regulatory requirements, but this will also add significant efficiencies to our F&I product administrator customers.”

F&I Express is pleased to announce details of an initiative currently underway on behalf of major auto lenders in the US to improve the aftermarket product cancellation process. Using our F&I Express platform called Express Recoveries, lenders are able to obtain cancellation refund amounts and electronically file product cancellation requests as a result of repossession and payoff directly with product providers. Express Recoveries provides lenders a more streamlined and accelerated process for filing product cancellations, and also delivers a cancellation management and reporting system used by lenders to assist with CFPB and State Compliance examinations.

By electronically connecting the lenders to the F&I Providers, it dramatically streamlines the cancellation process for lenders, F&I Providers, and the dealers. This allows the lenders to have the transparency they need from a compliance and process standpoint. In addition, the platform has a systematic way to show regulators and lenders the status of cancellation. This will eliminate ongoing telephone calls to dealers and providers.

More than a dozen auto lenders are currently using Express Recoveries in their product cancellation process. Integration discussions with F&I Providers are underway, with most major providers expected to be connected by mid-year 2017. Rob Berger, Executive Vice-President of Wise F&I and also President of the Guaranteed Asset Protection Alliance (GAPA) said, “Through integration with the Express Recoveries platform, we will streamline our cancellation management by moving to an electronic process rather than the largely manual one that we have today. In addition, the connectivity will support lender Compliance requirements and improve our service levels to lenders, dealers and consumers.”

“F&I Express has developed the largest Aftermarket F&I Provider Network in the industry to connect dealers with providers for the origination of F&I products” said Brian Reed, CEO of F&I Express. “Now we are connecting the lender community to F&I providers to streamline the product cancellation process for lenders, providers, and dealers while significantly enhancing the regulatory compliance capabilities of lenders,” Reed added.

F&I Express expects to announce several more top twenty lenders joining the Express Recoveries platform in the coming weeks. Together with F&I Express, Dealertrack and their national lender sales force are marketing the platform to their existing lender customers. Lenders or F&I Product Providers who are interested in learning more about the Express Recoveries platform can contact Rich Apicella at email hidden; JavaScript is required or your local Dealertrack Lender Representative. You can also learn more at the Dealertrack booth at the upcoming AFSA and NADA conventions in New Orleans.

LEE’S SUMMIT, Mo.–Mechanical Breakdown Protection, Inc. (MBPI), a top rated administrator, is pleased to announce a partnership with F&I Express. This innovative technology cuts costs, increases efficiency, and adds a new element of customer satisfaction. This partnership will help the F&I office increase sales penetration and improve dealer and customer satisfaction by decreasing customer delivery time.

“MBPI’s new partnership with F&I Express will allow dealerships a new and effective way to offer our wide range of F&I products to the consumer. It will also eliminate the need for double entry, which makes life easier for F&I Managers.” – Barry Kindler, MBPI National Sales Manager

Lake Success, N.Y.– Dealertrack and F&I Express announced today they have strengthened their partnership through the introduction of F&I Express’ Express Recoveries Solution. The offering provides lenders and consumers a refund of the unused portion of their aftermarket contracts. The service will be available through Dealertrack to lenders on October 1, 2016.

“The Express Recoveries Solution will expand Dealertrack’s offering to its more than 6,800 lenders, helping to bring aftermarket providers and lenders together and facilitate the management of aftermarket recoveries for dealerships,” said Mark Furcolo, senior vice president, Lender Solutions, Dealertrack. “The integration of Express Recoveries Solution will help lenders and dealers strengthen their relationship when it comes to aftermarket recoveries to consumers. This will ultimately enable better workflow and greater efficiencies, much needed in today’s dealerships.”

In addition, Dealertrack and F&I Express will join forces to provide dealerships with additional access to F&I product providers through the Dealertrack platform through Dealertrack eMenu and the Dealertrack Aftermarket Network. Through this workflow on Dealertrack, dealers will be able to access product rates, generate contracts and remit contracts to the providers. In the coming months, Dealertrack will provide more information about when providers and their rates will be added to the Dealertrack Aftermarket Network.

“Our aligned vision to provide powerful, innovative solutions to dealers to enhance workflow is a primary reason why we feel so strongly about our partnership with Cox Automotive, and expanding our relationship with Dealertrack is an important aspect of that,” said Brian Reed, President and CEO of F&I Express. “To include our award-winning Express Recoveries Solution on Dealertrack’s platform means lenders have increased and improved access to F&I providers for product cancellations.”